Jiutian Chemical    Last:0.022   -

JiutianC

read his personal homepage, it's not hard to see he loves traveling.. from the article, he said, he was given the IPO shares of Jiutian at 5.5 cents, and it run up high at 78cents, and now 14 cents. I hope he lets go all his holdings at high (above 70 cents), and I think he can retire from now.

 

Ex Jiutian CFO left about 7 months ago, must be wondering what happened to the company after that.

I believe he is still travelling ard the world - the fellow is a real traveller, according to article at.
http://www.nextinsight.com.sg/content/view/99/60/




 

 

CIMB's FY08-10 EPS forecasts have been reduced by 9-15% to account for the 16.7% dilution from the placement, partially offset by lower interest expenses from lower debt. On the other hand, target price has been raised from $0.09 to $0.10, still based on 1x CY08 P/BV. At $0.16, Jiutian is trading at 13x CY09 P/E, at a steep premium to the peer average of 5-6x. Maintain Underperform on the still-challenging operating environment in FY08. On an investment cost of Rmb98m, the additional 24.5% stake is priced at 39x CY09 P/E, lofty in our view.

 

Dealers said investors were optimistic about the future of Jiutian after the $37.2 million offering was taken up by a number of investors including DBS Vickers and Chew Hua Seng, CEO of Raffles Education.

"There will be dilution of its shares with the equity placement, but the future prospects of the company are attractive to institutional investors. Other retail investors are buying on that," a dealer said.

According to TA, if it breaks $0.19, next resistance is around $0.205.

But CIMB analyst Jessie Lim kept her "underperform" rating and a price target of $0.10, up from $0.09, on Jiutian's stock, citing the stake increase as "pricey".

"We prefer to maintain our conservative assumptions at this juncture to account for execution risks and potential start-stop problems at the new plant," Lim said in a client note.

 

Think CAD should be roped in to investigate these burgers Jiutian and DBS Vickers to ascertain any wrongdoings...

Anyway, for those not vested... better to stay away from such company. Already learned many past lessons to stay away from dodgy businesses.

tchoonw      ( Date: 23-May-2008 08:14) Posted: zhugeliang, my statement is true below... tchoonw      ( Date: 14-May-2008 08:52) Posted: Just short as much as you can. This is a scam from analyst. They downgrade to hell as much as possible and buy cheaply. After accumulating enough, they upgrade the bugger to heaven and sell you at a good profit! It's always big fish makan small fishes here :)

 

Cautiously optimistic that the stock will clear $0.175 today and  next resistance level of $0.19 soon after.

Downside should be limited due to the support from the 4 parties involved in the placement issues. Major push will be after June when the Q2 results should provide a re-rating. Truly believe that the worse is over for the counter as the management battle the twin troubles in Q1 while still maintain profitablity for the period. Just my 2 cents assessment and not an inducement to trade. Cheers.

 

 

Yes its been long since Juitian starts to be active, do you think of any possibility of going above the .20 level within this month although there may be alot of resistance on the way, but this stock has been falling since the beginning of the year and now it has broken out of the "envelope" and "bollinger bands" chart, moveover i think the "MACD" should be going into the positive side. Kindly post yr comment.  Thanks

 

Good for those who have held on to their investment in this counter.

History has repeated itself. Analyst called for Sell, create a fear factor and the BB scoop up before everybody else. The same theory also ring true for a Buy call. In fact, statistics has shown that those who act contrary to a Sell call has a higher probablity of winning.

At the end of the day, we would still need to research and analyse every news and calls ( both from broker houses or fellow vested forumers) before putting our hard earned monies in.

 

 

 

zhugeliang, my statement is true below...

tchoonw      ( Date: 14-May-2008 08:52) Posted: Just short as much as you can. This is a scam from analyst. They downgrade to hell as much as possible and buy cheaply. After accumulating enough, they upgrade the bugger to heaven and sell you at a good profit! It's always big fish makan small fishes here :)

 

zhuge, u'may want to direct the "conflict of interest" to the committee at SIAS, SGX, and MAS for their comments. I think you've a legitimate concern.

 

DBS Vickers issued a report with a tp of $0.11 and now they're buying a stake in Jiutian. Trying to drive down the price so that they can buy cheap? Isn't there a conflict of interest?

 

Jiutian has today entered into 4 placement agreements with DBS Vickers Securities (Singapore) Pte Ltd, SBI-E2-Capital Asia Securities Pte Ltd, The Royal Bank of Canada (Asia) Limited and Mr
Chew Hua Seng to raise $37.2 million by way of a placement of 275,900,000 new ordinary shares, subject to the in-principle approval from SGX.

The new shares were placed at a price of $0.135 per share. The number of new ordinary shares issued represents approximately 16.67% of the enlarged share capital of the Company.

Executive Chairman and CEO of Jiutian, Mr Wang Xianjin said, "Anyang Jiulong was set up in early '07 to construct a 250,000 tonne per annum methanol production facility. Construction of the methanol facility is in progress and expected to be completed by the end of '08. The methanol facility is important to the Group's operation as it will provide a stable and cost effective supply of methanol for the Group's enlarged DMF and methylamine production, and enable the Group to take advantage of the opportunities arising from the excess methanol over and above its own feedstock requirements, especially when methanol prices have risen by more than 60% from the time we started construction in early '07. To maximize our return from this plant, the Group has as announced on 14 Jan '08, secured a further 24.5% equity stake in Anyang Jiulong from 51% to 75.5%. A substantial part of the proceeds raised from this placement exercise will be used to inject as equity into Anyang Jiulong to fund the construction."

 

Date of Lifting of Trading Halt *	23-05-2008
Time of Lifting of Trading Halt *	0900 hours

 

Press Release: Jiutian Chemical Raises S$37.2 Million comprising 275,900,000 new ordinary shares in the capital of the Company at S$0.135 for each Placement Share.

The Company intends to utilise the net proceeds from the Placement as follows:-

(i) approximately S$19.6 million (RMB 98 million) will be used to fund the Company’s increase in its

equity stake in Anyang Jiulong Chemical Co., Ltd from 51% to 75.5%, as previously announced by the

Company in its press release via the SGXNET on 14 January 2008; and

(ii) the balance net proceeds of approximately S$17.3 million will be used to fund the Group’s investment

and operating needs.

zhuge_liang      ( Date: 22-May-2008 00:32) Posted: Jiutian was spiced up by talks that a placement to some strategic investors was on the cards.

 

Jiutian was spiced up by talks that a placement to some strategic investors was on the cards.

 

wa.a.. even better.... must be some good news la.

 

Jiutian request for Trading Halt, pending announcement.

Anyone knows what is going to happen?

 

look like it's penny stock play nowadays..

you must be crazy to short at 0.15..... 

 

tchoonw      ( Date: 21-May-2008 11:06) Posted: Today confirmed can short Jiutian at 15c...the target at 8c still hold!

 

Resistance at $0.16. If it breaks this level, it may go higher.

 

DMF: Domestic Manufacture Status 

( Append time: 2008-5-20 14:07:00  )

Henan Junhua DMF System stopped about 3-4 days for maintenance in the beginning of this week;

Anyang Jiutian DMF system stopped for maintenance since the end of last week, and now no exact date for restarting, now the quotation of this company is RMB￥6700-6900 per ton.

Zhangqiu Riyue DMF unit operate normally, now EXW quotation is RMB￥6800-7000 per ton, daily capacity about 110 tons.

Reported by www.chinapu.com